Aquatic Capital Management LLC Purchases 86,233 Shares of Lam Research Co. (NASDAQ:LRCX)

Aquatic Capital Management LLC grew its stake in shares of Lam Research Co. (NASDAQ:LRCX - Free Report) by 406.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 107,473 shares of the semiconductor company's stock after buying an additional 86,233 shares during the quarter. Aquatic Capital Management LLC's holdings in Lam Research were worth $7,763,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of LRCX. Oxford Asset Management LLP purchased a new stake in shares of Lam Research during the fourth quarter valued at approximately $452,000. Johnson Financial Group Inc. increased its position in shares of Lam Research by 768.8% in the fourth quarter. Johnson Financial Group Inc. now owns 59,524 shares of the semiconductor company's stock valued at $4,299,000 after acquiring an additional 52,673 shares during the period. Boothbay Fund Management LLC purchased a new stake in shares of Lam Research during the fourth quarter worth about $273,000. Coldstream Capital Management Inc. increased its holdings in Lam Research by 725.2% during the 4th quarter. Coldstream Capital Management Inc. now owns 79,404 shares of the semiconductor company's stock valued at $5,735,000 after purchasing an additional 69,782 shares during the period. Finally, Lord Abbett & CO. LLC grew its position in shares of Lam Research by 900.2% in the 4th quarter. Lord Abbett & CO. LLC now owns 634,745 shares of the semiconductor company's stock worth $45,848,000 after buying an additional 571,284 shares during the last quarter. Institutional investors own 84.61% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LRCX shares. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $90.00 target price on shares of Lam Research in a research report on Thursday, April 24th. B. Riley reissued a "buy" rating on shares of Lam Research in a research report on Thursday, April 24th. Needham & Company LLC cut their price objective on shares of Lam Research from $96.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Jefferies Financial Group lifted their target price on shares of Lam Research from $95.00 to $100.00 and gave the company a "buy" rating in a report on Friday, March 28th. Finally, Morgan Stanley lifted their price objective on Lam Research from $81.00 to $82.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Lam Research presently has a consensus rating of "Moderate Buy" and an average target price of $91.56.

Insiders Place Their Bets

In other news, SVP Seshasayee Varadarajan sold 110,080 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $90.00, for a total value of $9,907,200.00. Following the sale, the senior vice president now directly owns 179,084 shares in the company, valued at approximately $16,117,560. This represents a 38.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.29% of the company's stock.

Lam Research Stock Performance

LRCX traded up $0.06 during midday trading on Thursday, reaching $71.73. The company had a trading volume of 14,137,680 shares, compared to its average volume of 12,135,429. The business has a 50-day moving average of $72.18 and a two-hundred day moving average of $75.25. The company has a market cap of $91.75 billion, a P/E ratio of 21.79, a P/E/G ratio of 1.47 and a beta of 1.52. Lam Research Co. has a 1 year low of $56.32 and a 1 year high of $113.00. The company has a quick ratio of 1.73, a current ratio of 2.54 and a debt-to-equity ratio of 0.51.

Lam Research (NASDAQ:LRCX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The semiconductor company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. Lam Research had a return on equity of 51.86% and a net margin of 26.49%. The business had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the previous year, the business earned $7.79 earnings per share. The business's revenue was up 24.4% on a year-over-year basis. As a group, equities research analysts predict that Lam Research Co. will post 3.71 earnings per share for the current fiscal year.

Lam Research Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Wednesday, March 5th were issued a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.92 annualized dividend and a dividend yield of 1.28%. Lam Research's dividend payout ratio (DPR) is 25.63%.

About Lam Research

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.